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They didn't "add" a hockey team. They took one that was a money pit, made an initial investment to upgrade it, got into the best conference in the nation, and positioned it to be at least revenue neutral, and more likely revenue positive for the long term. All major Hockey East programs at least revenue neutral, most are revenue positive.
You're forgetting the ancillary costs. The double scholarships for the women. The same arguments are made about football being in the black, but very school that jumps from 1-AA goes from a 7-digit athletic budget into the $25-30m range.